Jason E. Mininger Allegedly Laundered Money & Ran an Investment Fraud Scheme Reportedly Resulting in Over $917K in Losses to His Clients
Jason Mininger, a 50-year-old Folsom investment broker and adviser, allegedly laundered money and orchestrated an investment fraud scheme, according to a U.S. Attorney’s Office news release under review by investor rights attorney Alan Rosca.
Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Jason Mininger’s alleged investment fraud scheme. Investors who believe they may have lost money in activity related to Jason Mininger are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Mininger allegedly caused his clients at least $917,714 in losses between January 2014 and May 2017, and he also allegedly concocted false account statements and used a phony corporation to hide the embezzlement, according to the release.
Jason Mininger Allegedly Led Clients to Believe that it was Necessary to use their Previously Invested funds as part of a New Series of Investments
Mininger, specifically, from January 2014 to May 2017, allegedly made statements which led clients to believe that it was necessary to use their previously invested funds as part of a new series of investments that he would make or manage, according to the aforementioned release.
Mininger, in reality, allegedly deposited the funds into his own bank account and then used the investors’ money for his personal expenses, the news release said.
Said transaction allegedly resulted in at least $917 K in losses to his clients, the news release states, and Mininger also allegedly created false investment account statements to hide his embezzlement of his clients’ funds, the release notes.
Mininger has reportedly entered a plea in February, will serve 46 months in prison, and has been ordered to pay $917,714 in restitution to his reported fraud victims, the release notes. Mininger is set to be sentenced May 31 by U.S. District Judge Troy L. Nunley, according to reports.
The case resulted from an investigation by the FBI and Internal Revenue Service-Criminal Investigation, the release states.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Jason Mininger’s alleged investment fraud scheme. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Jason Mininger’s alleged investment fraud scheme may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.